Shares & Derivatives
Stock Chart: Cosco, SembMar!
By Dou  •  August 11, 2011

On Thursday, Cosco re-test the support at $1.14 and closed at $1.17 with HIGH volume of 48.53 million shares traded.

A white candle sticks with long upper shadow similar to “hammer” affirms that investors buy on the support and prices rebound strongly.

Both RSI & MACD are bearish though RSI in oversold region.

Important Resistance of Cosco: $1.36

Immediate Support of Cosco: $1.14

Currently prices are well below the 20/50/100/200 days MA.

Today Cosco re-test the critical support at $1.14 and managed to rebound strongly forming a candle stick similar to a “hammer”.

For the past 4 trading sessions, Cosco have been under heavy selling pressure as panic heightened.

Although $1.14 support is expected to be strong but we would urged to wait for consolidation or at least the ease of volume before entry.

On Thursday, Sembmar re-test the support at $4.11 ...

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By Dou
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2 Comments

2 responses to “Stock Chart: Cosco, SembMar!”

  1. christina says:

    Hi,

    may I ask how low can cosco go and the likely rebounce target
    thks

  2. Derek Lim says:

    Hi Christina,

    You can post your query directly at Dou’s blog too -> http://singstocks.com/stock-chart-cosco-sembmar/.

    Cheers!

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